Raise.com is an online marketplace where people can sell gift cards for cash, or buy gift cards at a discount. There are a more than a few websites to buy discounted gift cards, but Raise.com might be our favorite. Keep reading to find out why.
How Does Raise.com Work?
The key behind Raise.com’s business model is that roughly 30% of gift cards go unused each year. If you receive a gift card for your birthday that you have no interest in using, you can sell it in their marketplace, and use that money on something you actually want. According to Raise.com, the average giftcard discount is 16%, and the average purchase is about $200, which would be a saving of roughly $32. Raise makes their money by facilitating this transaction. Every time a gift card sells, they take a 15% cut from the listing price. They launched in 2013, and claim to have created $140 million in savings to date for 2 million buyers and sellers.
Buying Gift Cards on Raise.com
Raise is incredibly easy to use. Once you set up an account, you will be able to search throughout their database of gift cards by discount percentage, brand, category, and more. Raise.com has a database of over 1,000 stores, so you shouldn’t have too hard of a time finding what you want.
You can visit Raise.com to set up an account, or you can download their mobile app. If you plan to use this consistently, then it would probably be worth it to download the app. In addition to selling physical gift cards, Raise.com also gives you the ability to search for and purchase electronic gift cards. This means that if you are looking to purchase something specific today, or if you are currently in a store holding a sweater you want to buy, you can go onto the Raise app, and buy an electronic gift card instantly.
The Raise.com 1 Year Guarantee
One major issue that Raise seems to be fully aware of is the potential for gift card sellers to take advantage of gift card buyers, and there are some slight risks to be aware of. For physical gift cards, it would be pretty easy for someone to sell their gift card on Raise.com, and then use the card before shipping it to the buyer.
This is where the 1 Year Guarantee comes in. Raise.com will cover any of the following issues within a full year of your gift card purchase: cards that are inactive, cards with an inaccurate balance, cards delivered as a different brand than ordered, and physical cards not received within 30 days of the purchase date. There are a few things that are not covered by Raise.com, but if you have an issue of fraud, and reach out to them within a year of your purchase, you should be taken care of.
Selling Gift Cards on Raise.com
Selling gift cards on Raise.com is easy too. To sell a gift card, you will first need to create a listing. Each listing requires you to enter the retailer, the card number, and its pin. From there, you will enter the value of the card, and what you would like to sell it for. There is a listing fee of $1, so you will have to type in your credit card information to pay that. That is basically it, all you do now is wait for Raise.com to review and approve your listing, and it should be live in at most 24 hours. When a sale is completed, Raise.com will pay you via direct deposit, Paypal or check.
Is Raise.com Legit?
Yes, and it is incredibly user friendly on both ends. If you are in need of some quick cash, take a few minutes to rummage through your desk drawers, and start selling some gift cards! And if you are looking to do some shopping, it can’t hurt to check Raise.com first, right?